diff --git a/NEWS.txt b/NEWS.txt
index ed9778c7f..a91d67529 100644
--- a/NEWS.txt
+++ b/NEWS.txt
@@ -1,8 +1,18 @@
-Version 1.2 - XXXX-XX-XX
+Version 1.2 - 2013-03-30
  * Picard now requires at least Python 2.6
  * Removed support for AmpliFIND/PUIDs
+ * Add support for the Ogg Opus file format
  * It's now possible to download cover images without any plugin. Cover Art Archive images can be downloaded by image type
+ * Improved directory scanning performance
+ * Prefer already-loaded releases of the same RG when matching files
+ * Allow dropping new files onto specific targets
+ * Add basic collections management support (PICARD-84)
  * Allow adding custom tags in the tag editing dialog (PICARD-349)
+ * Fix replacing of Windows-incompatible characters (PICARD-393)
+ * Save both primary and secondary release types (PICARD-240)
+ * Handle errors from the AcoustID service better (PICARD-391)
+ * Accept HTTPS URLs on drag-and-drop (PICARD-378)
+ * Allow adding custom tags in the tag editor (PICARD-349)
 
 Version 1.1 - 2012-09-03
  * Always show basic tags in metadata comparison box, even if empty (title,
diff --git a/picard/__init__.py b/picard/__init__.py
index 5b9e74fdb..075049e0e 100644
--- a/picard/__init__.py
+++ b/picard/__init__.py
@@ -17,7 +17,7 @@
 # along with this program; if not, write to the Free Software
 # Foundation, Inc., 51 Franklin Street, Fifth Floor, Boston, MA 02110-1301, USA.
 
-version_info = (1, 1, 0, 'final', 0)
+version_info = (1, 2, 0, 'final', 0)
 
 if version_info[3] == 'final':
     if version_info[2] == 0:
@@ -28,5 +28,5 @@ else:
     version_string = '%d.%d.%d%s%d' % version_info
 __version__ = version_string
 
-api_versions = ["0.15.0", "0.15.1", "0.16.0", "1.0.0", "1.1.0"]
+api_versions = ["0.15.0", "0.15.1", "0.16.0", "1.0.0", "1.1.0", "1.2.0"]